Tom Lee’s Bitmine Buys Another $69M ETH, Holds Massive $8.66B Stack

Bitmine, the crypto firm led by Wall Street veteran Tom Lee, has expanded its Ethereum treasury once again, purchasing another $69 million worth of ETH through Galaxy Digital’s over-the-counter (OTC) ￰1￱ latest acquisition brings Bitmine’s holdings to roughly 1.95 million ETH, valued at $8.66 billion, according to Arkham ￰2￱ transaction records show a series of large transfers carried out between Galaxy Digital and Bitmine in recent ￰3￱ LEE IS BUYING EVEN MORE $ETH Tom Lee’s Bitmine just bought another $69M of ETH from Galaxy ￰4￱ now hold $8.66 BILLION of ETH. $BMNR is bullish on $ETH. pic. twitter. com/t9BWh9btPR — Arkham (@arkham) September 19, 2025 The settlements included 3,247 ETH ($14.55 million), 3,258 ETH ($14.6 million), 4,494 ETH ($20.06 million), and 4,428 ETH ($19.77 million), totaling 15,427 ETH, about $69 million, in under an ￰5￱ structured timing suggests coordinated OTC settlements, which allow institutional buyers to accumulate large amounts without disrupting open market ￰6￱ Crosses 2M ETH, Controls Nearly 2% of Ethereum’s Supply The purchase underlines Bitmine’s aggressive accumulation ￰7￱ shows that Ethereum accounts for nearly the entirety of its $8.65 billion portfolio, positioning the firm as the largest corporate ETH treasury ￰8￱ tokens in its portfolio are negligible by comparison, including minor holdings of MakerDAO’s MKR and a handful of experimental tokens with only a few thousand dollars in value.

Bitmine’s latest purchase follows a series of substantial buys over recent ￰9￱ September 11, the company received 46,255 ETH worth $201 million from a BitGo wallet across three addresses. A week earlier, on September 4, Bitmine acquired 80,325 ETH valued at $358 million from Galaxy Digital and ￰10￱ acquisitions have lifted its total stash well above 2 million ETH in circulation, equivalent to about 1.8% of Ethereum’s entire ￰11￱ to treasury reserve data, corporate and institutional entities now collectively hold about 4.99 million ETH worth $22.2 billion, representing 4.13% of the token’s circulating ￰12￱ leads this group with 2.15 million ETH, valued at $9.59 billion at peak pricing, followed by SharpLink Gaming with 838,000 ETH ($3.74 billion) and The Ether Machine with 495,000 ETH ($2.2 billion).) September 17, 2025 The deal, first announced in July, is expected to close in the fourth quarter, pending shareholder ￰13￱ company has built a sizable position of 495,362 ETH after adding 150,000 ETH in August.

meanwhile, SharpLink Gaming announced the repurchase of 1 million shares at an average price of $16.67, part of its ongoing buyback ￰14￱ late August, the firm has repurchased nearly 1.94 million shares , citing undervaluation as the ￰15￱ reported a net asset value of $3.86 billion, or $18.55 per share, and confirmed it carries no outstanding ￰16￱ say Ethereum is emerging as the key beneficiary of the digital asset treasury (DAT) ￰17￱ a report this week, Standard Chartered’s global head of digital assets research, Geoffrey Kendrick, argued that ETH-focused treasuries are better positioned than their Bitcoin and Solana ￰18￱ Chartered said Ethereum has benefited more than Bitcoin or Solana from digital asset treasury buying, citing stronger staking yields. #Ethereum #Bitcoin #treasuries ￰0￱ — ￰19￱ (@cryptonews) September 15, 2025 Unlike Bitcoin, Ethereum and Solana generate staking yield, which supports higher valuations and long-term ￰20￱ June, Ethereum treasuries have accumulated about 3.1% of the token’s circulating ￰21￱ valuations for many DATs under pressure, consolidation is expected, but Ethereum-focused firms appear to be gaining ground.